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ASA 450 - Evaluation of Misstatements Identified during the Audit - October 2009
Misstatements in DisclosuresMisstatements in Disclosures
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Misstatements in Disclosures
- Misstatements in disclosures may also be clearly trivial whether taken individually or in aggregate, and whether judged by any criteria of size, nature or circumstances. Misstatements in disclosures that are not clearly trivial are also accumulated to assist the auditor in evaluating the effect of such misstatements on the relevant disclosures and the financial report as a whole. Paragraph A14 of this Auditing Standard provides examples of where misstatements in qualitative disclosures may be material.